Gerry Cardinale is ‘cautiously optimistic’ that AC Milan will be able to build a new stadium as they have planned, according to a report.
Journalists Dakin Campbell and Hayley Cuccinello published a feature in Business Insider (via MilanNews) about Cardinale and his fund RedBird Capital, who are the majority shareholder of Milan.
Cardinale has excellent knowledge of stadium management and financing such operations. In his day at Goldman’s, he helped the Yankees finance their new stadium and worked with the Dallas Cowboys to build a franchise and merchandise business with the Dallas Cowboys. RedBird have also owned French football club Toulouse FC since 2020 and Cardinale is familiar with Liverpool’s operations through FSG.
According to Business Insider, the current San Siro is too dated and any renovation works would not be enough to transform it into a stadium that ‘encourages fans to come early and stay late to get a drink, buy a shirt or take a tour of the team museum’.
Cardinale is ‘cautiously optimistic’ that Milan will get a new stadium as RedBird have done their homework, having met nearly 200 clubs over the past five years. With or without a new stadium, RedBird intends to grow Milan through a partnership with the Yankees, who are co-investors.